FMERA Approves Purchase Agreement for Pinebrook Road Commerce Center
Signaling yet another benchmark in FMERA’s mission to bring small businesses to Fort Monmouth, the Board this month approved a Purchase and Sale & Redevelopment Agreement between FMERA and Pinebrook Commerce Center LLC (PCC) for the sale of the Pinebrook Road Commerce Center (more commonly referred to as the Fabrication Shops) in the Tinton Falls section of the Fort.
“We are pleased that PCC shares FMERA’s vision of creating a multi-tenant business park and intends to remake the Pinebrook Road Commerce Center in such a fashion,” FMERA Director of Real Estate Development Dave Nuse said. “PCC has a proven track record of successfully owning and operating similar properties in Long Branch and Port Monmouth.”
The Pinebrook Commerce Center property consists of five acres of land and eight buildings. The purchaser also had the option of acquiring an adjoining 1.5-acre parcel for truck/trailer parking/storage. PCC opted to purchase this extra land, bringing the total land being redeveloped to 6.5 acres.
PCC plans to invest an estimated $2.25 million into the business park, including making exterior and interior improvements to all of the buildings on the property.